Inflation in the UK, as measured by the Consumer Price Index (CPI), jumped to 6.2% on a yearly basis in February from 5.5% in January. This print surpassed the market expectation of 5.9%.

Annual Core CPI, which excludes volatile food and energy prices, rose to 5.2% from 4.4%, compared to analysts' estimate of 5%. 

Further details of the report revealed that the annual Retail Price Index climbed to 8.2% from 7.8% as expected and the Producer Price Index (input) stretched higher to 14.7% from 14.2% in the same period.

Market reaction

These figures don't seem to be having a significant impact on the British pound's performance against its rivals. As of writing, the GBP/USD pair was posting small daily gains at 1.3277.